Neste OYJ (OTCMKTS:NTOIY) Shares Down 5.8% – Here’s Why

Neste OYJ – Unsponsored ADR (OTCMKTS:NTOIY) shares dropped 5.8% on Tuesday . The company traded as low as $16.68 and last traded at $16.68. 1,860 shares were traded during mid-day trading, a decline of 97% from the average session volume of 56,374 shares. The stock had previously closed at $17.70.

Wall Street Analysts Forecast Growth

NTOIY has been the subject of a number of analyst reports. Zacks Research downgraded Neste OYJ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. UBS Group raised Neste OYJ from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Neste OYJ has a consensus rating of “Buy”.

Neste OYJ Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.89 and a quick ratio of 0.95. The company has a 50 day simple moving average of $16.68 and a 200-day simple moving average of $15.30. The stock has a market capitalization of $24.97 billion and a P/E ratio of 14.18.

Neste OYJ (OTCMKTS:NTOIY) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. Neste OYJ had a return on equity of 21.16% and a net margin of 7.35%.The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.19 billion. On average, equities analysts forecast that Neste OYJ – Unsponsored ADR will post 1.5 EPS for the current year.

About Neste OYJ

Neste OYJ is a Finland-based energy company with a strong focus on renewable and circular solutions. Headquartered in Espoo, the company operates one of the world’s largest renewable diesel production networks and offers a wide range of low-carbon fuels, sustainable aviation fuel (SAF) and renewable feedstocks derived from waste and residues. In addition to renewable products, Neste maintains traditional oil refining and marketing operations in selected markets.

The company’s Renewable Products segment processes raw materials such as used cooking oil, animal fat and industrial residues into high-performance renewable diesel and aviation fuel.